It is “nearly unavoidable” that AI will trigger a financial crisis within the decade unless regulators step in, says Securities and Exchange Commission head Gary Gensler.
In an interview with the Financial Times, Gensler warns that regulating AI is a “hard challenge” because a host of financial institutions may all be using the same base models. In addition, these models could be developed not by the financial firms themselves but by technology companies that…
Read the full article here